Greenspan Talks Economics on Hardball

Greenspan Talks Economics on Hardball
http://video.msn.com/video.aspx?mkt=en-US&brand=msnbc&vid=e6ed2f93-a265-433d-bd08-45ee090e6edc

Greenspan talks about current issues such as Medicare, The Fairtax, Taxes, and the current state of our economy.

>>19
Yes, BUT, the cool thing is that the poor would get a rebate back for the taxes they spent on food, clothing, and medicine back. Since poor people aren't buying much else besides necessities, this helps them get out of the tax.

So this isn't so bad of an idea, it simplifies the tax code down, the only problem is we still need to curb government overspending in areas.

If medicare was reformed or destroyed and replaced with a national health program, I'd be happy. We also need to do away with our Cold War level defense spending. If we cut out that and focus on paying back our national debt, we could institute a lower tax in the future to keep our budget balanced.

Unfortunately, I think that the US should get Nationalized health services, but we could only afford it if we reduced the amount we were spending on the national debt. we need to curb our spending and get out of the hole before we start any new programs.